Hindustan Times-Likely increase of 10% in ready reckoner rate to bail out cash-strapped govt
With the generation of revenue being a major task before it, the cash-strapped Mahayuti government is likely to increase ready reckoner (RR) rates by around 10% in the state. While expecting ₹55,000 crore this year from stamp duty collection, it hopes to mop up another ₹15,000 crore from increased RR rates. The move, however, could adversely impact the real estate sector, as property will become more expensive.
The revenue department, which deals with stamp duty and registration, proposed the raise during its recent presentation to the finance department after it was asked about possible options to increase state revenue. Stamp duty and registration are the third-highest generators of revenue after GST and sales tax.
